Professional Service Robots Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 53.30 Billion |
| Market Size (2029) | USD 109.20 Billion |
| CAGR (2024 - 2029) | 15.40 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Professional Service Robots Market Analysis
The Professional Service Robots Market Size & Share Market size is estimated at USD 53.30 billion in 2024, and is expected to reach USD 109.20 billion by 2029, growing at a CAGR of 15.40% during the forecast period (2024-2029).
- Professional robots encompass a variety of categories, including field robots, defense and security robots, medical assisting robots (MAR), public assistant robots, electrical industry robots, and robots for construction purposes. The growing adoption of digital technologies and automation solutions in these industries is fueling the demand for professional robots.
- Professional robots are commonly utilized in various primary industries such as transportation, hospitality, medical, professional cleaning, and agriculture. In 2023, transportation emerged as a prominent sector for the use of professional robots. As per the International Federation of Robotics (IFR), the United States led in the number of professional service robot manufacturers in 2023, surpassing China and Germany. Also, countries like the United States are experiencing a rise in robotics startups that are starting to compete with established industry players.
- However, these service robots have been widely embraced by these industries due to their ability to provide high-quality services, improved ease of use, reliability, and cost savings by reducing human errors. Additionally, the industry is currently undergoing a technological revolution that is enhancing the capabilities of professional service robots due to advancements in machine learning, adaptive computing, vision systems, and artificial intelligence (AI).
- The advancements in 5G technology and AI chipsets are anticipated to play a crucial role in driving growth in the professional service robotics market in the future. Connectivity is a crucial factor in the deployment of robots, especially for mobile service robots operating in industrial settings where reliable connections can be challenging to maintain. The improved reliability, reduced latency, and increased connection densities offered by 5G technology can effectively address this issue.
- In addition to this, the integration of automation and mobility in various industrial sectors is contributing significantly to the overall market growth. Moreover, the market is bolstered by factors such as escalating labor expenses, growing investments in research and development, a shortage of skilled workers, and heightened awareness of service robots and industrial automation.
- However, the initial capital investment for professional service robots is quite considerable. This large investment may not be feasible for small and medium-sized businesses, leading them to opt for manual labor instead. Additionally, these robots require regular repair and maintenance, which adds to the overall cost. Therefore, the high capital investment and operational expenses are likely to pose challenges to the growth of the global professional service robots market in the foreseeable future.
Professional Service Robots Market Trends
Inspection and Maintenance Segment to Hold Significant Market Share
- A service robot for inspection and maintenance is a specialized robotic system that is specifically designed to carry out a wide range of inspection and maintenance tasks in industries like manufacturing, oil and gas, power generation, and more. These robots come equipped with sophisticated sensors and tools that enable them to effectively navigate through intricate environments and autonomously. Also, these provide real-time monitoring, data analysis, and predictive maintenance features, allowing for proactive maintenance and decreasing the likelihood of equipment failure and damage.
- Also, the number of professional service robots in inspection and maintenance roles will increase, as these robots can effectively and consistently carry out repetitive tasks, minimizing the risk of human error. These robots are capable of detecting flaws, irregularities, and wear in buildings and equipment, which is crucial for tasks that require precision in inspection and maintenance. By upholding a high level of quality control and promptly identifying issues, potential failures or breakdowns can be prevented.
- Moreover, it is expected that the market will receive positive impacts from the growing focus on industrial safety regulations and the increasing investment in smart manufacturing technologies. The integration of advanced functionalities, such as remote monitoring, cloud connectivity, and machine learning algorithms, in inspection and maintenance robots is projected to contribute to the expansion of the market.
- As per the International Federation of Robotics (IFR), the United States leads the world in the number of professional service robot manufacturers as it has around 217 manufacturers, including startups and incumbents, significantly surpassing the combined totals of China with 106 manufacturers and Germany with 85 manufacturers, its two closest competitors. Additionally, all of these leading nations boast a healthy number of startups dedicated to robotics, complementing their established and incumbent companies in the industry.
- Additionally, modern service robots often come equipped with advanced sensors and data analysis capabilities. When conducting inspections, they are able to collect and analyze large quantities of data, providing significant insights into the condition of infrastructure or equipment. This data-driven approach enables predictive maintenance, allowing businesses to address issues proactively, enhance asset performance, and extend the lifespan of assets.
Asia-Pacific to Exhibit a Significant Growth Rate
- The Asia-Pacific region is anticipated to witness significant growth due to technological advancements and increasing automation in various industrial sectors. The influential economies of Japan, China, South Korea, and India are key contributors to the market's development in the region.
- Additionally, government policies supporting the manufacturing industry and a growing emphasis on economic diversification in emerging nations are the key drivers that are fueling growth in industrial automation. Consequently, there has been a rise in demand for service robots. The escalating presence of robots in the regional market is seen as a significant factor contributing to the considerable growth of the region's market during the forecast period.
- China, as a crucial hub for global manufacturing, prioritizes industrial automation. Professional service robots play a significant role in enhancing productivity, reducing labor expenses, and optimizing efficiency in industrial operations. Robots carry out tasks such as assembly, welding, and material handling, which contribute to China's continued success as a leader in manufacturing worldwide.
- The utilization of professional service robots in the healthcare sector in China is increasing steadily, driven by the aging population and rising healthcare needs. These robots are capable of carrying out various tasks such as patient care, diagnosis, and surgical assistance. The surge in sales of service robots in China is a result of the country's commitment to technological advancement and addressing healthcare challenges.
- The Asia-Pacific region is at the forefront of the market due to significant investments made in the manufacturing sectors. With countries in the Asia Pacific region serving as manufacturing hubs with low costs for manufacturing, labor, and raw materials, suppliers are able to engage in the mass production of electronic products and generate substantial profits from other areas in the region.
- Moreover, in October 2023, Pudu Robotics, a renowned global manufacturer of professional service robots and the leading exporter of professional service robots in China, successfully shipped nearly 70,000 units. The majority of Pudu Robotics' sales are attributed to countries such as Japan and South Korea.
- Additionally, in May 2023, South Korea's KT Corp. introduced two new AI service robots with improved features for enhanced driving stability and weight detection. These robots were created in partnership with Bear Robotics and LG Electronics Inc. and have the capability to seamlessly integrate with tablets, kiosks, and in-store calling systems for efficient processing of customer orders.
Professional Service Robots Industry Overview
The professional service robotics market is semi-consolidated, as major players have a significant market presence. However, with the demand growing, new players are also entering the market, driving competition and the market toward a fragmented stage. Vendors are adopting various strategies to consolidate their market presence further, including product innovation, partnerships, acquisitions, etc. Some major players include KEENON Robotics, Husqvarna Group, Hanson Robotics Limited, Cyberdyne Inc., and Brokk AB.
- February 2024: KEENON Robotics, a renowned global leader in robotic services and solutions, announced a partnership with Konica Minolta Business Solutions (HK) Ltd. This exciting collaboration introduces a variety of service robot models, such as the KEENON DINERBOT T10, T9 Pro, T9, T8, T3, GUIDERBOT G2, and BUTLERBOT W3, with the goal of enhancing operational efficiency in Hong Kong and Macau. This partnership represents a significant milestone in KEENON's growth, offering state-of-the-art service robotics to enhance customer experiences across various industries.
- January 2024: LG Electronics announced the launch of a subscription service for its CLOi robots, which have been enhanced with advanced AI features. This initiative is part of our ongoing efforts to broaden our reach in the business-to-business (B2B) market. The robot as a service (RaaS) subscription service features the CLOi ServeBot. This service robot is capable of serving food in restaurants and aiding with deliveries in hospitals and hotels. Additionally, LG will offer professional management and services every six months through the Care Solution Manager service.
Professional Service Robots Market Leaders
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KEENON Robotics
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Husqvarna Group
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Hanson Robotics Limited
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Cyberdyne Inc.
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Brokk AB
*Disclaimer: Major Players sorted in no particular order
Professional Service Robots Market News
- April 2024: Pudu Robotics ventured into the industrial sector with the introduction of the PUDU T300. This robot offers outstanding maneuverability, making it adept at navigating confined industrial environments with ease. What sets the T300 apart is its map-and-go feature, which eliminates the necessity for continuous network connection. Additionally, its IoT capabilities include secure door access, elevator management, and advanced navigation, supported by a combination of lidar and depth cameras.
- February 2024: Accenture announced a collaboration with Mujin, a leading provider of intelligent robotics, to create Accenture Alpha Automation, a joint venture focused on serving the manufacturing and logistics sectors. This partnership aims to provide companies with innovative solutions to streamline their operations by leveraging advanced data-driven technologies that integrate manufacturing and logistics data with management data. The joint venture is majorly owned by Accenture, with Mujin holding a minority stake.
Professional Service Robots Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers/Consumers
4.2.3 Threat of Substitute Products
4.2.4 Intensity of Competitive Rivalry
4.2.5 Threat of New Entrants
4.3 Impact of Macroeconomic Factors on the Market
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Rising Adoption of Service Robots Across Various Applications
5.1.2 Increase Use of 5G, IoT, and AI Chipsets
5.2 Market Restraints
5.2.1 High Initial Cost of Investments to Hamper the Market's Growth
6. MARKET SEGMENTATION
6.1 By Type
6.1.1 Field Robots
6.1.2 Professional Cleaning
6.1.3 Inspection and Maintenance
6.1.4 Construction and Demolition
6.1.5 Logistics Systems (Manufacturing and Non-manufacturing)
6.1.6 Medical Robots
6.1.7 Rescue and Security Robots
6.1.8 Defense Robots
6.1.9 Underwater Systems (Civil or General)
6.1.10 Powered Human Exoskeletons
6.1.11 Public Relation Robots
6.1.12 Other Types
6.2 By Geography
6.2.1 North America
6.2.2 Europe
6.2.3 Asia
6.2.4 Australia and New Zealand
6.2.5 Latin America
6.2.6 Middle East and Africa
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 KEENON Robotics
7.1.2 Husqvarna Group
7.1.3 Hanson Robotics Limited
7.1.4 Cyberdyne Inc.
7.1.5 Brokk AB
7.1.6 Intuitive Surgical Inc.
7.1.7 Aethon Inc.
7.1.8 TopTec Spezialmaschinen GmbH
7.1.9 Scythe Robotics
7.1.10 PAL Robotics
7.1.11 Knightscope Inc.
7.1.12 Grenzebach GmbH & Co. KG
7.1.13 Peanut Robotics
7.1.14 Pudu Robotics
7.1.15 Gridbots Technologies Private Limited
7.1.16 Novus Hi-Tech Robotic Systemz
7.1.17 LG Electronics Inc.
7.1.18 Diligent Robotics Inc.
7.1.19 Constrobot Robotics Pvt. Ltd (Pace Robotics)
7.1.20 Bear Robotics Inc.
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. FUTURE OF THE MARKET
Professional Service Robots Industry Segmentation
Professional robots are a category of robots that are intended for use in professional environments outside of manufacturing facilities. Most professional service robots are either semi-autonomous or fully autonomous and typically have some level of mobility.
The professional service robotics market is segmented by type (field robots, professional cleaning, inspection and maintenance, construction and demolition, logistics systems (manufacturing and non-manufacturing), medical robots, rescue and security robots, defense robots, underwater systems (civil/general), powered human exoskeletons, public relation robots, and others) and by geography (North America, Europe, Asia-Pacific, and Rest of World). The report offers market forecasts and size in value (USD) for all the above segments.
| By Type | |
| Field Robots | |
| Professional Cleaning | |
| Inspection and Maintenance | |
| Construction and Demolition | |
| Logistics Systems (Manufacturing and Non-manufacturing) | |
| Medical Robots | |
| Rescue and Security Robots | |
| Defense Robots | |
| Underwater Systems (Civil or General) | |
| Powered Human Exoskeletons | |
| Public Relation Robots | |
| Other Types |
| By Geography | |
| North America | |
| Europe | |
| Asia | |
| Australia and New Zealand | |
| Latin America | |
| Middle East and Africa |
Professional Service Robots Market Research FAQs
How big is the Professional Service Robots Market Size And Share Market?
The Professional Service Robots Market Size And Share Market size is expected to reach USD 53.30 billion in 2024 and grow at a CAGR of 15.40% to reach USD 109.20 billion by 2029.
What is the current Professional Service Robots Market Size And Share Market size?
In 2024, the Professional Service Robots Market Size And Share Market size is expected to reach USD 53.30 billion.
Who are the key players in Professional Service Robots Market Size And Share Market?
KEENON Robotics, Husqvarna Group, Hanson Robotics Limited, Cyberdyne Inc. and Brokk AB are the major companies operating in the Professional Service Robots Market Size And Share Market.
Which is the fastest growing region in Professional Service Robots Market Size And Share Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Professional Service Robots Market Size And Share Market?
In 2024, the Europe accounts for the largest market share in Professional Service Robots Market Size And Share Market.
What years does this Professional Service Robots Market Size And Share Market cover, and what was the market size in 2023?
In 2023, the Professional Service Robots Market Size And Share Market size was estimated at USD 45.09 billion. The report covers the Professional Service Robots Market Size And Share Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Professional Service Robots Market Size And Share Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Professional Service Robots Industry Report
Statistics for the 2024 Professional Service Robots Size And Share Analysis market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Professional Service Robots Size And Share Analysis analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
